Cryptocurrency traders continued pouring huge inflows into digital funding merchandise final week amid post-election market momentum.
Crypto funding merchandise noticed $1.98 billion in inflows from Nov. 3–9, pushing international belongings beneath administration to a report excessive of $116 billion, CoinShares reported on Nov. 11.
This marks the fifth consecutive week of inflows, totaling $7.7 billion — 24% of the $31.3 billion recorded in 2024 up to now.
Bitcoin ETF buying and selling within the US leads the inflows
According to earlier CoinShares studies, spot Bitcoin (BTC) exchange-traded funds (ETF) buying and selling in the USA led the inflows in crypto merchandise final week.
Bitcoin noticed inflows of $1.8 billion, with BTC merchandise reaching $9 billion in inflows because the US Federal Reserve lower rates of interest for the primary time in 4 years in September.
Flows by belongings (in thousands and thousands of US {dollars}). Supply: CoinShares
“A mixture of a supportive macro atmosphere and seismic shifts within the US political system being the possible cause for such supportive investor sentiment,” CoinShares analysis director James Butterfill wrote within the replace.
Regionally, most inflows got here from the US, totaling $1.95 billion. Europe noticed minor inflows, with Switzerland and Germany contributing $23 million and $20 million, respectively.
Alternatively, traders in Sweden continued to promote, with weekly outflows amounting to $25.7 million.
Ether ETFs see largest inflows since launch
Amid constructive crypto sentiment, spot Ether (ETH) ETFs noticed their largest week after seeing average demand beforehand.
Within the first week of November, Ether ETFs noticed inflows of $157 million, the biggest influx because the first Ether ETFs began buying and selling in July, marking a notable enchancment in sentiment.
A variety of altcoins noticed inflows as properly, with Solana (SOL) merchandise seeing $3.9 million of inflows, whereas Uniswap (UNI) and Tron (TRX) posted $1 million and $0.5 million inflows, respectively.
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In distinction, crypto traders had been promoting short-Bitcoin merchandise final week, with outflows amounting to $2.7 million.
Final week’s sturdy crypto inflows drove the Bitcoin value to a brand new historic report above $80,000 on Nov. 10. The BTC value has continued to rise since, topping $82,379 on Nov. 11, in keeping with knowledge from CoinGecko.
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